SOCCSKSARGEN’S SPENDING ON GROSS CAPITAL FORMATION SUFFERS SETBACK

Reference Number: 

20R12-PR-009

Release Date: 

Monday, 9 November 2020

Spending on gross capital formation of SOCCSKSARGEN declined by 19.0 percent in 2019. Household final consumption expenditure (HFCE) and Government final consumption expenditure (GFCE) decelerated to 4.9 percent and 5.5 percent, respectively, during the same period.

Gross fixed capital formation similarly declined by 9.3 percent in 2019 from 12.0 percent growth in 2018.

Total exports of goods and services to Rest of the World (ROW) posted a 16.8 percent growth in 2019. Also, total imports of goods and services from ROW grew by 6.9 percent.

Real per capita HFCE grew by 3.3 percent in 2019. The real per capita HFCE in the region was recorded at Php 91,480 in 2019, lower than the national level which amounted to Php 130,743.

 

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